Wednesday, 29 February 2012

OncoSec Medical (OTC:ONCS) has been featured in the magazine Medical Device & Diagnostic Industry, the company said Wednesday.
The biomedical company, founded in 2011, develops advance-stage
ElectroOncology anti-cancer therapies to treat people with solid
tumours.
The March article titled “OncoSec Could Revolutionize Oncology
Therapy” details the company’s promising OMS ElectroOncology treatment
platform. The article can be accessed here: http://www.mddionline.com/article/oncoSec-could-revolutionize-oncology-therapy
The magazine noted OncoSec’s on-going Phase II clinical studies in
metastatic melanoma and Merkel cell carcinoma, a rare and aggressive
cancer.
The article also notes the company’s upcoming milestones for this year.
The magazine is published monthly and written expressly for original
equipment manufacturers of medical devices and in vitro diagnostic
products.
It has a circulation of about 50,500, and its goal is to aide
industry professionals in the design, and development of medical
products that comply with regulations and market requirements.
On Tuesday, OncoSec announced that it dosed its first patient in a
Phase II clinical trial testing its OMS ElectroImmunotherapy treatment
on advanced-stage metastatic melanoma patients.
The dosing comes as the University of California San Francisco (UCSF)
received approval from the Investigational Review Board for the trial.
UCSF investigators are currently recruiting for this clinical trial.
OncoSec uses its electroporation delivery system which applies cell
membrane stimulation to deliver immunotherapy or chemotherapy to treat a
range of cancerous tumour types.
The OMS electroporation system has proven to enhance cellular uptake,
effectively treating cancerous cells while sparing surrounding healthy
tissue – cutting through the toxic side effects of current available
treatment options like chemotherapy and radiation.
In 2011, the company managed to outline a clinical development plan
for its local and potentially systemic ElectroImmunotherapy program,
which uses the OncoSec Medical System (OMS) to deliver a DNA-based
immunotherapy, known as DNA IL-12, designed to induce a local immune
response against the treated cancerous tumor, while exploiting this
response to initiate a global systemic response against untreated tumors
in other areas of the body.
For the metastatic melanoma trial, a total of up to 25 patients with
stage three or four cutaneous and in-transit metastatic melanoma will be
enrolled in the phase two, single-arm, open-label and multi-centre
study.

ImmunoCellular Therapeutics
(OTCBB:IMUC) Wednesday entered into an agreement with Johns Hopkins
University which sees the college grant an exclusive, worldwide license
to intellectual property surrounding the tumor-associated antigen
mesothelin.
The terms of the agreement were not disclosed.
Antigens are substances that cause the immune system to produce
antibodies against it. Mesothelin is highly expressed in pancreatic
cancer, ovarian cancer and mesothelioma.
The company will employ this intellectual property in the development
and commercialization of ICT-140, a multivalent, dendritic cell-based
vaccine for the treatment of ovarian cancer, one of multiple tumor types
in which mesothelin is over-expressed.
Shares of ImmunoCellular advanced 3.9 percent Wednesday, to $2.12 in early afternoon trading.
ICT-140 is designed to target cancer stem cells as well as daughter
cells in ovarian cancer by targeting multiple different antigens
including mesothelin, Her-2/neu, IL-13Rα2 and several other undisclosed
antigens.
ImmunoCellular president and CEO Manish Singh said: "As we continue
the development of a novel, dendritic cell-based vaccine for the
treatment of ovarian cancer, this licensing agreement for mesothelin
technology will allow us to ensure that we have the critical components
for a successful vaccine.
"We look forward to the ongoing support of Dr. Jaffee and her
colleagues at Johns Hopkins as we develop the vaccine. We expect to file
an Investigative New Drug application for the vaccine in the fourth
quarter of this year."ImmunoCellular Therapeutics
is a Los Angeles-based clinical-stage company that is developing
immune-based therapies for the treatment of brain and other cancers.
It recently started a phase II trial of its lead product candidate,
ICT-107, a dendritic cell-based vaccine targeting multiple tumor
associated antigens for glioblastoma.
Earlier this month the company received a "notice of allowance" from
the U.S. Patent and Trademark office for its patent relating to the
targeting of cancer stem cells in the treatment of patients with
glioblastoma, an aggressive form of brain cancer.
The patent, called “Cancer Stem Cell Antigen Vaccines and Methods”,
covers various methods of using dendritic cells combined with antigens
derived from glioblastoma cancer stem cells.

Rubicon Minerals
Corp. (TSE:RMX) said Wednesday it has closed a $200.9 million bought
deal equity financing, the bulk of which will go toward advancing its Phoenix Gold project.
The gold explorer sold 49 million common shares for $4.10 each. GMP Securities and TD Securities were co-lead underwriters.
The underwriting syndicate also included UBS Securities Canada,
Mackie Research Capital Corp., Scotia Capital and NCP Northland Capital
Partners.
Rubicon said it plans to use the proceeds to advance the development of its Phoenix Gold project, as well as for working capital and general corporate purposes.
Rubicon controls over 100 square miles of exploration ground in the prolific Red Lake gold district of Ontario, which hosts Goldcorp's (TSE:G) high-grade Red Lake Mine.
Last June, the company received results from a preliminary economic
assessment on its F2 Gold System, part of the Phoenix project, that
indicated cash costs as low as US$214 per tonne of processed material.
The report, prepared by AMC Mining Consultants, estimated the F2
System will produce 180,000 ounces of gold per year in the base case
scenario over a life of 12 years, with production rates of 1,250 tonnes
per day.
This, according to the study, would yield a net present value of $433
million, at a five percent discount rate, and a pre-tax 28 percent
internal rate of return, with a payback period of 3.3 years from the
start of production.
These base case results were calculated using a gold price of $1,100
per ounce, the company said, and increase when using a higher, spot gold
price.

Independent equity research firm AMI Research Wednesday initiated coverage on Pressure BioSciences (NASDAQ:PBIO) with a "buy" rating and $5.22 price target.
In a research report, AMI's director of research Peter D'Agostino
said: "At this time, we urge investors to view PBIO as a revenue growth
story and as a buy and hold stock."Pressure BioSciences
is a life science, medical device company that develops and
commercializes pressure cycling technology-based instruments and
consumables.
The PCT platform technology instrumentation cycles pressure between
ambient and ultra-high levels (up to 35k psi) at controlled temperatures
to control the interactions of biomolecules. PBIO's technology is also
used for genomic, proteomic and small molecule sample preparation as
well.
The applications of the company's PCT-based products are endless -
from the key $2 billion target market of mass spectrometry, an
analytical technique used to determine the characteristics of molecules,
to biomarker discovery, forensics and counter-bioterrorism, among other
uses.
Florida International University (FIU) was awarded in late January a
near $350,000 grant to improve rape case DNA testing using the company's
own PCT platform. The company's goal, with the help of the FIU grant,
is the continued development of a faster and more accurate method of
processing DNA evidence for rape prosecutions. With Pressure BioSciences' PCT System, there is no need to remove female cells prior to analysis.
The company's Barocycler product has even appeared in an episode of hit TV show "CSI:New York" in 2011.
In the report, AMI's D'Agostino said: "PBIO is poised for growth as
it begins an aggressive commercialization initiative in 2012."
D'Agostino said that this commercialization will be a highlight to
PBIOʼs story for the next couple of years and AMI expects that momentum
will be built.
"We are impressed with managementʼs plan to implement a restructured
sales force, significantly expand its distributor base and form
strategic agreements with larger partners, while still rolling out new
products in 2012 and 2013," D'Agostino said.
"As far we know, PBIO is the only company with PCT technology and available products."
AMI's D'Agostino was confident that as the company continues its
commercialization, it will gain significant medical acceptance,
allowing PBIO to grow market share.
For 2012, AMI projects product revenue growth of nearly 33 percent to
$1.0 million and expects total revenue to increase nearly 54 percent
to $1.5 million.
The independent research firm expects revenues to strengthen in the
second half of the year as PBIOʼs newly structured sales team begins to
gain traction and additional distributor agreements are signed and new
and recent products gain momentum.
In terms of future catalysts, D'Agostino sees aggressive product commercialization as PBIOʼs largest growth catalyst.
"A highlight to the PBIO story is its anticipated large-scale
commercialization effort. We expect the company to now be focused on
three areas in its commercialization effort; sales, distribution and
strategic partners," he said.
PBIO currently has distribution agreements in Japan and Korea and
recently partnered with a leading life sciences European distributor
for coverage in Germany and Switzerland. The company expects to
significantly increase the number of foreign distributors, which will be
essential for its anticipated growth.
A strong product pipeline will boost PBIOʼs commercialization
process, AMI said. PBIO closed an $800,000 private placement financing
earlier this month.
"PBIO has successfully launched new products and is gearing them for
mass commercialization. In 2012, PBIO is scheduled to launch its FFPE
system and in 2013 the company is expected to roll-out its PCT-based HT
and Xstream PCT instruments."
The new offerings will enhance PBIOʼs solid portfolio of products and
aid in the increased acceptance and recognition of PCT in the medical
community, AMI's D'Agostino added.

JMP Securities reiterated its market outperform rating and $3 price target for NeoStem (AMEX:NBS) on Tuesday, after Baxter International (NYSE:BAX)
named the stem cell company's Progenitor Cell Therapy unit (PCT) as the
contract manufacturer for a phase three stem cell trial.
Tuesday, Baxter started a phase three, 450 patient pivotal clinical
trial to evaluate the efficacy and safety of an individual's own CD34+
stem cells to increase exercise capacity in patients with chronic
myocardial ischemia (CMI), a coronary artery disease.
CMI is one of the most severe forms of coronary artery disease,
causing significant long-term damage to the heart muscle and disability
to the patient. It is often diagnosed based on symptoms of severe,
refractory angina, which is severe chest discomfort that does not
respond to conventional medical management or surgical interventions.
JMP's analyst, Jason N. Butler, said: "In our view, Baxter's
continued commitment to develop CD34+ cells in cardiac indications
provides external validation of the scientific and mechanistic rationale
for NeoStem's CD34+/CXCR4+ candidate therapeutic, AMR-001.
"Furthermore, Baxter announced that NeoStem's
PCT division will be the contract manufacturer for the Phase III
product, representing approximately $5-10MM in revenue, in our view.
"Our $3 price target is derived through a sum-of-the-parts analysis
including AMR-001, manufacturing service revenue from PCT, and sales
from the company's Chinese pharmaceutical division Suzhou Erye."
Speaking to Proactive Investors, NeoStem chief executive Robin Smith said: "It's really exciting. As our clients progress in phases, revenue goes up dramatically."
In terms of the trial's financial impact, Smith said: "With the
addition of Progenitor Cell Therapy (PCT) in January of 2011, our
revenues have diversified with over 10 percent attributable to PCT.
"As the cell therapy industry progresses and our clients accelerate
through the clinical trial pathways these revenues will rapidly grow."
Smith added: "We are very excited to see the results of the phase III
data when published as the phase II trial provided evidence that
leveraging the body's own natural repair mechanisms can improve exercise
capacity and reduce chest pain."
JMP said in the report that Baxter's trial could also validate NeoStem's
AMR-001, which is an autologous cell therapy designed to prevent heart
tissue damage and further major adverse cardiac events following a heart
attack.
The treament consists of a patient's own bone marrow cells, which are
processed to create pharmaceutical-grade cells that are then
re-injected through coronary arteries into damaged areas of the heart, 5
to 11 days after a patient experiences a heart attack.
The therapy is different than Baxter's in that the cells NeoStem
uses are not injected directly into the heart muscle. These cells are
infused into the infarct-related artery and mobilize to the area of
injury where they are needed.NeoStem
is an international biopharmaceutical company with adult stem cell
operations in the US, a network of adult stem cell therapeutic providers
in China as well as a 51 percent ownership interest in a profitable
Chinese generic pharmaceutical manufacturing company.
The company is focused on accelerating the development of proprietary
cellular therapies and becoming a single source for collection,
storage, manufacturing, therapeutic development and transportation of
cells for cell-based medicine and regenerative science globally.NeoStem is currently changing hands at 58 cents on Wednesday afternoon.

Goldrush Resources
(CVE:GOD)(OTCQX:GDRRF) late Tuesday reported assay results from six of
18 core holes drilled as part of a 10,140-metre fill-in program on the
company's Ronguen Gold Deposit in Burkina Faso, West Africa.
Among the highlights of the drilling results, in hole KGRC11-036, the
company encountered 6.92 grams per tonne (g/t) gold over 8.9 metres,
including 12.8 g/t gold over 1.2 metres and 16.3 g/t gold over 1.0
metre; hole KGRC11-041 found 1.90 g/t gold over 12.9 metres and hole
KGRC11-040 returned 1.30 g/t gold over 14.2 metres, including 1.99 g/t
gold over 7.5 metres and 1.12 g/t gold over 6.2 metres.
The Ronguen Gold Deposit is located on the Kongoussi 1 and Tikare
permits, which are located only six kilometres northwest of the High River Gold Mines (TSE:HRG) Bissa Deposit.
Goldrush president and CEO, Len Brownlie, said: "We are very excited
by the discovery of a new style of high grade gold mineralization at
Ronguen.
"The utility of the new geophysical model as a tool to help direct
future exploration at Ronguen has been enhanced by its strong
correlation with recent favourable drilling results, including the most
recent high grade assays noted in hole -036.
"On a recent site visit, we observed successful artisanal mining
activity at the hill site two kilometres east of the collar of hole -036
on the newly interpreted strike extension of the South Zone. A program
to test this extension will begin in early March as we continue
exploration of this very promising gold deposit."
Core hole KGRC11-036 was drilled on line 530E of the South Zone, an
interpreted parallel shear zone/thrust fault in the hanging wall of the
Main Zone at the Ronguen deposit.
Hole KGRC11-036 is the most southerly and deepest hole drilled on the
South Zone and was designed to test the down dip potential of the lower
grade gold mineralization encountered in reverse circulation hole
KGRR-130 (3.62 g/t gold over 6 metres at a depth of 40.1 metres) and
hole KGRR-152 (1.70 g/t gold over 7 metres at a depth of 32.4 metres).
Partial assays from hole -036 have led to the high grade intersection
at a vertical depth of 59.6 metres. The gold intercept in hole -036 is
open up-hole and Goldrush is awaiting assay results from this portion of
the core, it said.
Gold mineralization in hole -036 represents a style of mineralization
that had not been recognized at Ronguen, Goldrush said, and is
therefore an attractive target for follow-up drilling.
A recent three dimensional modelling of existing data covering the
eastern part of the Ronguen gold deposit has revealed four parallel,
easterly striking high resistivity anomalies to a depth of 300 metres.
The two central resistivity high bodies are coincident with the gold
mineralization found in the Ronguen Main and South zones, while the
northern structure has not been drill tested. If further work confirms
that the most northern structure is mineralized, then it would present
an important new target for exploration at the Ronguen deposit, the
company said.
Goldrush is a Canadian mineral exploration company focused on gold
exploration in West Africa, where the company has discovered, and is
currently expanding and defining the 249,000-ounce Ronguen gold deposit
in Burkina Faso.

Corvus Gold (TSE:KOR)(OTCQX:CORVF)
unveiled Wednesday the results of a phase one resource expansion
drilling program at its North Bullfrog project near Beatty, Nevada,
following on the heels of a positive preliminary economic assessment
(PEA) for the property yesterday.
The company said that seven of the nine holes drilled to test the
expansion potential of the defined Sierra Blanca and Jolly Jane deposits
have returned "encouraging results".
In the Sierra Blanca area, hole NB-12-118 intercepted 46 metres of
0.56 grams per tonne (g/t) gold, 250 metres north with a similar
intercept 400 metres north in hole NB-12-119.
These holes, together with hole NB-12-117, drilled 400 metres to the
west of Sierra Blanca, suggest significant resource expansion potential
exists to the north and west of the current Sierra Blanca deposit with
"markedly higher grades", the company said.
Notable intercepts were also returned from holes NB-12-124 and 125,
which targeted the north-eastern extension of mineralization toward the
Jolly Jane deposit.
Hole NB-12-124 returned 39.6 metres of 0.24 g/t gold and 0.50 g/t
silver, including 13.7 metres of 0.50 g/t gold and 0.60 g/t silver,
while hole NB-12-125 hit 54.9 metres of 0.21 g/t gold and 0.64 g/t
silver, including 13.7 metres of 0.38 g/t gold and 1.10 g/t silver.
These results from the 2012 phase one step out drill program were not
included in the initial PEA for the project, which was announced
Tuesday.
The PEA produced a robust positive economic analysis for a
conceptual, low capex, heap leach project that generates an average
annual gold production of 57,700 ounces over 12.8 years, indicating a
pre-tax, pre-royalty net present value of $118.3 million and an internal
rate of return of 28.8 percent at a $1,300 per ounce gold price and a
five percent discount rate.
Total initial capital expenditure is seen at $68.8 million with a
2.6-year payback period for the project, which has a large in-pit
resource of 1.1 million ounces contained and 747,000 ounces of
recoverable gold.
"The thick and higher grade intersections returned in this initial
step-out drilling are encouraging for Corvus and strongly support our
goal of doubling the existing estimated resource by year end," said CEO
Jeff Pontius.
"On the heels of our PEA released yesterday these results bode well
for an enhanced project size and potentially improved financial
performance in the future.
"It is exciting that some of our best holes have been drilled to the
north and west of the existing deposits, under large expanses of shallow
cover which could contain significant new deposit potential."
Indeed, the 2012 phase one program also returned results from the
Jolly Jane target, where two holes were drilled. One hole 200 metres to
the north and another 400 metres to the north returned broad intercepts,
said the company, including hole NB-12-123. The 400 metre step out hole
intersected 138.7 metres of 0.27 g/t gold, including 32 metres of 0.50
g/t gold.
"The intensity of the alteration and mineralization in this
northern-most hole suggests the system is expanding in size and grade in
this direction," Corvus said in a statement Wednesday.
The main focus of the drilling program has been to test the overall
resource footprint size to improve the design of a 30,000 metre phase 2
drill campaign, which is currently being permitted and scheduled to
begin later this year.
Corvus said that the results from Jolly Jane and Sierra Blanca in
phase one show that the resource footprint is considerably larger than
previously defined. Further step out and infill drilling will therefore
be a priority in phase two, the company added.
The two holes drilled on southern step-outs in Sierra Blanca along
the Savage Valley found only anomalous gold, with additional work still
required to assess if the mineralization continues to the south beyond
the company's existing drill pattern.
Pontius continued: "We are also looking forward to results from our
diamond core drilling program into the high-grade Yellowjacket feeder
system that could hold significant potential.
"The company is focused on rapidly advancing the project down the path to a potential production decision."
Turning attention to the phase one diamond drilling program, three
holes have been completed into the Yellowjacket feeder system to date
and at least two more are planned. The Yellowjacket target is in the
northern part of the district and has returned results like 11.9 g/t
gold over 6.1 metres in earlier drilling.
The company said it expects initial results from this drilling in the next few weeks.
In addition, large diameter core will be drilled in the key deposits
of the project allowing additional metallurgical testing for use in a
project development decision planned for later this year.
Corvus has increased its overall land holding at the North Bullfrog
Project to 43 square kilometres by staking 297 federal unpatented mining
claims. The new staking covers potential extensions of the North
Bullfrog gold system, as well as ground that may be needed for any
potential future mining operations.
The company controls 100 percent of the property, which is adjacent to a major highway and power corridor.
North Bullfrog currently includes numerous prospective gold targets
with four - Mayflower, Sierra Blanca, Jolly Jane and Connection -
containing an NI 43-101 compliant estimated indicated resource of 24
million tonnes at an average grade of 0.29 grams per tonne (g/t) gold
for 224,400 ounces of gold.
These same four targets hold an additional inferred resource of 468
million tonnes at 0.19 g/t gold for 2,835,000 ounces of gold (both at a
0.1 g/t cutoff), with appreciable silver credits.
The PEA envisages average production of 70,000 ounces of gold per
year over the first three years, with total cash operating costs of $815
per ounce gold with an average of $673 per ounce gold over the first
three years.

Copper Fox Metals (CVE:CUU)
released an update Tuesday on its current activities, reminding
investors of the feasibility study it expects to complete by the end of
March.
The company said its 2011 program on the Schaft Creek deposit in
British Columbia demonstrated the property's potential to host a number
of porphyry-style copper-gold-silver-molybdenum deposits.
Significant copper-gold-silver-molybdenum mineralization, located
1,200 metres north of the Paramount Zone and associated with a large Titan-24
chargeability anomaly, and in a geotechnical hole some 300 metres east
of Paramount in an interpreted 'leakage' zone, supports this potential,
Copper Fox said.
The feasibility study for the property is being completed by Tetra Tech WEI - expected by the end of March 2012.
During the fourth quarter, Copper Fox also completed a 38.8-kilometre Titan-24
DCIP& MT survey over an area extending from the north end of the
Paramount zone to the ES zone, three kilometres away, and along an 800
metre-long portion of the GK zone.
The survey located large chargeability anomalies on the Mike, ES, and
GK zones, and has extended the chargeability signature of the Paramount
zone to the north along the mineralized corridor referred to as the
Schaft Creek Mineral Trend, Copper Fox said.
The company also completed 22 diamond drill holes, totaling 9,662.3 metres, at the property during the fourth quarter.
Four rigs worked to complete the drill program, which located a new
zone of copper mineralization that correlates with a chargeability
anomaly located 1,200 metres north of the Paramount zone.
Hole CF415-2011, located 280 metres north of the previous drilling at
Paramount, intersected 67 metres grading 1.1 percent copper.
Copper Fox holds title and a 100 percent working interest in a
21,024.96 hectare property that includes the Schaft Creek deposit,
subject to a 3.5 percent Net Profits Interest held by Royal Gold, a 30 percent carried Net Proceed Interest held by Liard and an earn back option held by Teck Resources (TSE:TCK.B).
The company is currently earning a 78 percent interest in Liard from
Teck. Teck's earn back option to acquire 20 percent, 40 percent or 75
percent of the Copper Fox interest in the Schaft Creek project is
triggered upon the completion of a positive feasibility study.
During 2011, Copper Fox raised a total of $18.7 million, including
over $15 million in private placements, $1.1 million from the exercise
of 2.24 million options, and $2.6 million from the exercise of 1.8
million warrants.
Additionally, a director of the company loaned $3.9 million to Copper
Fox. The loan is unsecured, bears no interest, and there are no fixed
terms of repayment, it said.

Rare Element Resources (TSE:RES) (AMEX:REE) said late Monday it intersected the best assay results to date at its Sundance gold project in Wyoming.
Hole SUN-116, drilled on the Smith gold target, intersected 1.21
grams per tonne (g/t) gold over 176.8 metres, including 4.5 g/t gold
over 24.4 metres.
Meanwhile, hole SUN-117, collared to the west of SUN-116, intersected
12.2 metres at 1.35 g/t gold, while SUN-118 hit 12.2 metres at 1.24 g/t
gold.
Rare Element said these results are beginning to define a new target
area adjacent to the main Smith deposit, where the mineralization
extends from the surface to a depth of 300 metres, remaining open.
Exploration manager, John T. Ray, said: "SUN-116 located at the Smith
target area has the highest gold grades and thickest interval of plus 1
g/t Au ever reported for the entire district and is open in two
directions.
"We are excited about the discovery of this new prospect and
anticipate determining the size and orientation of its high-grade
nucleus."
Meanwhile, the mineralization at the Taylor gold target extends from surface to a depth of about 400 metres.
Hole RES11-31 intersected 71.3 metres grading 0.77 g/t gold, while
RES11-32 hit 0.55 g/t gold over 70.7 metres, and RES11-33 intersected
0.49 g/t gold over 49.7 metres.
"Most of the holes in the East Taylor area have significant near-surface intercepts of +1 g/t Au," continued Ray.
"Our goal of the 2011 drilling to find areas of higher grade gold
mineralization was achieved. Over the next few years, additional
drilling will be needed to determine the extent of this mineralization."
These results are from the company's 2011 drill campaign at the
Sundance project, which saw the completion of 34 reverse circulation
(RC) drill holes and two core drill holes, totaling 6,989 metres.
Separately, the company also reported Monday 2011 results from
Section 16, which is located east of Rare Element's Bull Hill project.
Section 16 is under consideration for a stockpile and waste facility for
the proposed rare earth element (REE) mine.
Rare Element drilled 15 RC holes on Section 16 during 2011, totaling
2,296 metres, in order to assess the REE and gold mineralization
potential. The results from four holes on the west side of the section
suggested minimal exploration potential, the company said, with hole
SUN-093 returning 0.46 g/t gold over 7.6 metres.

Clifton Star Resources (CVE:CFO)
said Tuesday it has filed an updated NI 43-101 technical compliant
report on SEDAR for tis Donchester property, part of the company's
Duparquet project in Quebec.
The report, prepared by James S. Steel of Mining Insights, comes
after a previous technical report on Donchester from June 2011 was
deemed by the British Columbia Securities Commission (BCSC) to be
non-compliant with the requirements of NI 43-101, prompting a cease
trade order.
The company said Tuesday it has filed an application with the
executive director of the BCSC to have the cease trade order revoked and
expects a response in due course.
The current NI 43-101 compliant inferred resource on the Donchester
portion of the Duparquet project consists of 11.01 million tonnes with
an average grade of 3.06 grams of gold per tonne for 1.05 million
contained gold ounces, at a cut-off grade of 1.5 grams of gold per
tonne, and using a topcut of 8.0 grams.
Clifton Star said the report recommends "extensive further work" on
the property including in‐fill drilling and exploration drilling, both
on sections with existing drill holes and between sections. Trenching is
also recommended, it added.
Meanwhile, the Beattie area of the Duparquet project is currently
estimated to contain 1.72 million inferred gold ounces, while the
Duquesne area is projected to hold 0.2 million indicated ounces, and
0.28 million inferred ounces.
In October 2011, the company filed a "Material Change Report" as well
as two other NI 43-101 reports dealing with the Beattie portion of the
Duparquet project and the Duquesne property.
Clifton said it retained the services of InnovExplo, a geological and
mining consulting firm, to prepare an NI 43-101 technical report on the
Beattie, Donchester, Dumico, Central Duparquet, and the Beattie
Tailings portions of the Duparquet project, and expects to receive this
report in April this year.
Since re-assuming control of the Duparquet project last June from Osisko (TSE:OSK),
the the company has been actively drilling at the property, with 85
holes for 26,754 metres completed in 2011, as well as metallurgical
testing.
Most of these holes were drilled on the Beattie and Donchester
properties to increase the continuity of the zones and to extend
previous holes that had ended in mineralization.
Results from the on-going drilling campaign should be available
shortly, Clifton said, with metallurgical testing results to be released
in due course.
These results, as well as all previous drilling assays, are being
used to prepare the NI 43-101 technical report for the project due in
April, which will form the basis of a preliminary economic assessment.
Clifton said last month that it will continue exploration in 2012
with the aim of expanding resources and identifying new targets. In the
first half of 2012, the company plans to spend roughly $2 million on
exploration, with most allocated for 15,000 metres of drilling.
The primary focus of this exploration program will be to test the extension of the mineralized zones to depth on the properties.
Clifton, which has around $14 million in cash and term deposits, also said Tuesday it has hired a new CEO, Michel F. Bouchard.
Bouchard has more than 30 years of experience in exploration and mine development in Quebec.
In addition, M. Louis C. Martin has been appointed VP of exploration.

REBgold (CVE:RBG)
said Tuesday it intersected 9.6 metres grading 10.0 grams per tonne
(g/t) gold on its joint venture Osikonmäki gold project, located on the
Rantasalmi property in Finland.
The company confirmed the high-grade gold mineralization there, and sending it stock skyrocketing.

On the TSX-Venture, shares of the Toronto-based REBgold spiked 55.56 percent to $0.07 per share, as of 2:35 pm EDT.

Significant
results from the drill program include hole BELOSI-78, which
intersected 55.46 metres grading 2.85 g/t gold, including 19.86 metres
at 6.32 g/t gold, which included 9.6 metres at 10.01 g/t gold.

This
particular hole has delineated the main shear and upper zone for over
80 metres of strike to date. The mineralization is east-west trending,
and continued to the 101.5-metre depth of the hole.

REBgold Chairman Mark Burridge said: "The first drillhole of the 2012 drilling campaign has generated very positive results.

"It
confirms the width and tenor of the previous holes drilled in the area
and, importantly, intersected a large lower grade area below high grade
shear, opening up the potential for a lower grade bulk tonnage target in
the hanging wall of the main shear, improving the potential economics
of potential future mining.

"The presence of copper also highlighted the possibility for developing minor by- product credits.

"Drilling continues to expand the extent of mineralization and assays are pending from additional holes drilled recently."

The
company begun this 2012 resource expansion drill campaign at Rantasalmi
late last month, intending to test the extents of the current
boundaries of the resource envelope defined in the 2011 drilling.

Specifically,
drilling targeted along strike and down dip extensions of the
Osikonmaki East mineralization, including the high grade shallow
mineralization discovered in the 2011 drilling campaign.

Under the joint venture entered in March last year with Belvedere Resources (CVE:BEL),
REBgold can earn 50 percent of the Rantasalmi and Kiimala projects in
Finland, in return for spending $6 million in exploration and
development over four years.

If it continues with a feasibility
study for the property, REBgold will boost its stake to between 55
percent and 75 percent, and if its bioleaching technology can lead to a
material improvement in the project economics, the company can earn
another five percent stake.

Currently, the Osikonmäki East
prospect has an indicated resource estimate of 1.3 million tonnes
grading 1.7 g/t gold, for 68,000 contained ounces of the yellow metal,
and an inferred resource estimate of 3.5 million tonnes grading 2.09 g/t
gold, for 244,000 ounces of contained gold.

In other news,
REBgold announced earlier this month that it closed a private placement
it announced early November 2011, and raised $1 million before expenses.
It said it plans to use the money to expand the drill program at the
Rantasalmi project, where there are numerous targets along strike and
down dip from existing resources and other areas of identified
mineralization, and for general working capital.

REBgold had issued a total of 20 million units at a price of 5 cents apiece.

Each
unit consists of one common share and one non-transferable share
purchase warrant which entitles the holder to buy a common share for 10
cents 0.10 per share. The warrants expire on November 10, 2016.

Baxter
Tuesday started a phase III pivotal clinical trial to evaluate the
efficacy and safety of an individual's own CD34+ stem cells to increase
exercise capacity in patients with chronic myocardial ischemia (CMI), a
coronary artery disease.

CMI is one of the most severe forms of
coronary artery disease, causing significant long-term damage to the
heart muscle and disability to the patient. It is often diagnosed based
on symptoms of severe, refractory angina, which is severe chest
discomfort that does not respond to conventional medical management or
surgical interventions.
Speaking to Proactive Investors, NeoStem chief executive Robin Smith said: "It's really exciting. As our clients progress in phases, revenue goes up dramatically."

In
terms of the trial's financial impact, Smith said: "With the addition
of Progenitor Cell Therapy (PCT) in January of 2011, our revenues have
diversified with over 10 percent attributable to PCT.

"As the
cell therapy industry progresses and our clients accelerate through the
clinical trial pathways these revenues will rapidly grow."

Cell
therapy is typically more expensive, requiring thousands of dollars to
manufacture an individual cell therapy. Baxter has announced 450
patients for its trial.

It may take the pharmaceutical giant a
few years to enroll all of these patients. The primary endpoint measured
at the 12 month follow up is a patient's total exercise capacity.

Smith
added: "We are very excited to see the results of the phase III data
when published as the phase II trial provided evidence that leveraging
the body's own natural repair mechanisms can improve exercise capacity
and reduce chest pain."

Baxter is taking a slightly different approach in its CMI therapy, opting to inject cells directly into the heart.

"NeoStem's
AMR-01 therapy is different in that the cells they use are not injected
into the heart muscle. These cells are infused into the infarct-related
artery and mobilize to the area of injury where they are needed," Smith
said.

NeoStem has both methods and composition of matter patents and recently announced the expansion of their patent portfolio.

Amorcyte
has issued U.S. patents that broadly cover the use of stem cells for
the treatment of vascular injury caused by vascular insufficiency. The
company believes these patents cover any commercially viable use of stem
cells for the repair of vascular injury resulting from any ischemic
event, including, for example, acute myocardial infarction (AMI).

Amorcyte's
U.S. Patent No. 7,794,705 covers a cell-based therapy to repair damage
from a heart attack resulting from underlying diseases in patients who
have undergone a surgical procedure to restore blood supply to the heart
accomplished by using a composition that contains a therapeutically
effective amount of a chemotactic hematopoietic stem cell product; the
product includes a cellular component containing a population of
autologous mononuclear cells from any source enriched for CD34 cells,
where the CD34 cells contain a subpopulation of biologically active
CD34+/CXCR-4+ cells that, when delivered by catheter whenever needed,
can migrate in a directed fashion to areas of ischemic damage and effect
repair, and a serum component that maintains the biological activity of
these motile cells and enables commercial processing of the cells.

U.S.
Patent 8,088,370 covers a cell-based therapy to repair damage from any
vascular injury caused by vascular insufficiency accomplished by using a
composition that contains a therapeutically effective amount of a
chemotactic hematopoietic stem cell product; the product includes a
cellular component containing a population of autologous mononuclear
cells from any source enriched for CD34 cells, where the CD34 cells
contain a subpopulation of biologically active CD34+/CXCR-4+ cells that,
when delivered by catheter whenever needed, can migrate in a directed
fashion to areas of ischemic damage and effect repair, and a serum
component that maintains the biological activity of these motile cells
and enables commercial processing of the cells.
Stem cell processing for Baxter's trial will be conducted in Good Manufacturing Practice (GMP) facilities in the US by PCT.

With over 12 years of experience, PCT is an industry leader in contract development and manufacturing of cell therapy products.

PCT
is the only contract development and manufacturing organization to see
its client's cell therapy product receive marketing approval from the
FDA.

NeoStem
is an international biopharmaceutical company with adult stem cell
operations in the US, a network of adult stem cell therapeutic providers
in China as well as a 51 percent ownership interest in a profitable
Chinese generic pharmaceutical manufacturing company.

The company is focused on accelerating the development of proprietary cellular therapies and becoming a single source for collection,
storage, manufacturing, therapeutic development and transportation of
cells for cell-based medicine and regenerative science globally.

Temex Resources Corp. (CVE:TME)
said Tuesday it filed an updated mineral estimate for its Juby Main
Zone in the Shining Tree area of eastern Ontario, which is 50 percent
larger than the company's prior estimate from June 2010.

The
report, conducted by Ottawa-based consulting firm GeoVector, outlines an
indicated resource of 934,645 ounces of gold grading 1.30 grams per
tonne (g/t) at a 0.40 g/t cut-off on the Juby Main Zone, and an inferred
resource of 905,621 ounces gold grading 1.00 g/t at the same cut-off.

The
company said the deposit remains open for expansion at depth and along
strike, with Temex set to begin drilling on the adjacent, newly-acquired
Golden Lake property.

The latest resource includes diamond drill results from the company's 2010 and 2011 exploration campaigns at Juby.

"We
are extremely pleased with the significant increase in gold resources
which is an important step forward on the Juby Project," said president
and CEO, Ian Campbell.

"Further, there is potential to rapidly
increase the size of the deposit not only at depth, but along strike,
based on our recent strategic acquisition of the Golden Lake Property
announced January 18, 2012.

"This property has increased Temex's
control to 4.5 km of strike length of the gold-enriched Tyrrell
Structural Zone, host to the Juby Main Zone and has several similar
style gold mineralized drill intercepts.

"We intend to conduct
an aggressive drill program on both Golden Lake and Juby to expand our
gold resources, while initiating metallurgical and environmental
baseline work which will be incorporated into a preliminary economic
assessment of the Main Zone."

The company said the increase to
the resource reported in June 2010 is due to the incorporation of data
from diamond drill holes completed by Temex during the 2010 to 2011
winter drill program and the utilization of a 0.40 g/t gold cut-off
grade.

The prior 2010 indicated and inferred resources were reported at a cut-off grade of 0.50 g/t.

In
June 2010, the company reported an NI 43-101-compliant indicated
resource of 614,000 ounces gold grading 1.36 g/t at a 0.50 g/t cut-off,
and an inferred resource of 602,000 ounces gold grading 1.14 g/t at a
0.50 g/t cut-off.

Temex said it is currently developing
parameters for carrying out Whittle pit optimizations on the Juby
resources as a precursor to conducting preliminary economic studies.

The
Juby gold project itself is located west of Gowganda, Ontario, halfway
between Timmins and Sudbury, in Tyrrell and Knight Townships. The
company said excellent road access is provided to the project, which
consists of three gold properties totalling 7,463 acres in 169 claim
units.
The Juby joint venture property is owned 60 percent by Temex, with the remainder held by Goldeye Explorations Limited.

Corvus Gold (TSE:KOR)(OTCQX:CORVF)
Tuesday unveiled an independently prepared Preliminary Economic
Assessment (PEA) for its North Bullfrog project in Nevada.
The PEA produced a robust positive economic analysis for a
conceptual, low capex, heap leach project that generates an average
annual gold production of 57,700 ounces over 12.8 years, indicating a
pre-tax, pre-royalty net present value of $118.3 million and an internal
rate of return of 28.8 percent at a $1,300 per ounce gold price and a
five percent discount rate.Corvus Gold,
a resource exploration company, focused in Nevada, Alaska and Quebec,
said that the PEA also shows the project has a considerable leverage to
gold price, with a pre-tax, pre-royalty net present value of $338
million and an internal rate of return of a whopping 70 percent at a
$1,700 per ounce gold price.
Total initial capital expenditure is seen at $68.8 million with a
2.6-year payback period for the project, which has a large in-pit
resource of 1.1 million ounces contained and 747,000 ounces of
recoverable gold.Corvus Gold
chief executive Jeffrey Pontius said: "These initial results are
impressive and reinforce the potential for creating a new Nevada gold
producer.
"The low cost project linked with a low initial capex, attractive
start-up phase, a favourable permitting environment, excellent
infrastructure and available labour force, significantly de-risk this
prospective project.
"With recent successes in our step out and high-grade drilling
project we see this initial positive PEA as a critical first step in
developing what we believe will be one of Nevada's next gold mines."
Speaking to Proactive Investors, Corvus Gold's
investor relations executive Ryan Ko said: "We are currently following
up on further step out drilling and follow-up drilling of the higher
grade Yellowjacket zone.

"Our recent success as shown on our step
out hole reported on Feb.13, 2012 shows the potential of the North
Bullfrog deposit to be much greater.

"It is important to note
that our PEA is based on the current resource estimate reported in
October 2011 and does not include any results of the 2012 drill
program."

In terms of Corvus Gold's other projects, Ko said that the company was concentrating on Nevada since it was winter in Alaska and Quebec.

"Closer
towards the spring we will be drawing up plans and coordinating with
our JV partners on the Alaska and Quebec properties for the 2012 summer
exploration program, but for now we are concentrating 100% on our
Nevada, North Bullfrog project as we continue to add shareholder value."

Ko said that the company was currently well funded. In November 2011, Corvus Gold said it had $5.2 million in cash.
Corvus controls 100 percent of its North Bullfrog project, which
covers approximately 43 square kilometres in southern Nevada just north
of the historic Bullfrog gold mine formerly operated by Barrick
(TSE:ABX)(NYSE:ABX).
The property package is made up of a number of private mineral leases
of patented federal mining claims and 161 federal unpatented mining
claims. The project has "excellent infrastructure", the company said,
being adjacent to a major highway and power corridor.
North Bullfrog currently includes numerous prospective gold targets
with four - Mayflower, Sierra Blanca, Jolly Jane and Connection -
containing an NI 43-101 compliant estimated indicated resource of 24
million tonnes at an average grade of 0.29 grams per tonne (g/t) gold
for 224,400 ounces of gold.
These same four targets hold an additional inferred resource of 468
million tonnes at 0.19 g/t gold for 2,835,000 ounces of gold (both at a
0.1 g/t cutoff), with appreciable silver credits.Corvus Gold
said that the PEA envisages average production of 70,000 ounces of gold
per year over the first three years, with total cash operating costs of
$815 per ounce gold with an average of $673 per ounce gold over the
first three years.
The company added that it saw potential for significant resource
expansion with an ongoing drill program, as highlighted with recent
success in a 400 metre step out hole that returned 52 metres of 0.8 g/t
gold earlier this month.
Indeed, these were the first results from its 2012 exploration
drilling program at North Bullfrog. Corvus said the results confirmed
historical drilling in this resource expansion target area.
The company has also recently added approximately 25 square
kilometres to its North Bullfrog project by staking 312 federal mining
claims, bringing the land package to approximately 50 square
kilometres.
The PEA is based on the North Bullfrog in-situ resource model, which
consists of material in both the indicated and inferred classifications.
This initial stage PEA does not include any of the additional geologic
data produced in the current drilling program, which began in January,
2012, the company added.

Montero Mining and Exploration (CVE:MON)
unveiled Tuesday the results of an NI 43-101 compliant preliminary
economic assessment (PEA) for its Duyker Eiland phosphate project,
showing "robust economics" with a pre-tax net present value of C$150
million at a 10 percent discount rate.
The project is located 30 kilometres north of the Port of Saldanha,
in the Western Cape province of South Africa. The company said it is
already in discussions with a number of interested parties for
commercializing its phosphate assets.
Shares of Montero were up 2.56 percent Tuesday morning at 20 cents on the TSX Venture Exchange.
The PEA report, conducted by Turgis Consulting, is based on an
initial inferred mineral resource of 32.8 million tonnes, grading 7.15%
P2O5, and shows average production of 490,000 tonnes per year of 33%
P2O5 concentrate over an 11-year mine life.

The company said that an average of 4.5 million tonnes of rock would be mined per year at low stripping ratios of 0.57:1.
As reported late last year, preliminary metallurgical test work has
indicated that an acid-grade phosphate concentrate of 33%to 35% P2O5 can
be produced by flotation.

"We are pleased the results of the
PEA on the initial Inferred NI 43-101 Mineral Resource at Duyker Eiland
has returned such robust economics with a NPV of CAD$ 150 million with a
10% discount rate," said Montero president and CEO, Dr. Tony Harwood.

"Montero is in discussions with a number of parties interested in commercializing our phosphate assets.

Indeed, the company's Duyker Eiland
phosphate project could prove lucrative with a projected internal rate
of return (IRR) of 41 percent, pre-tax and before South African
royalties. Montero said there are also opportunities to increase the
value of the project through the production of fertilizers.

"At
a reduction in product revenue per tonne of 15 percent (USD$ 160) the
project still demonstrates robust returns with an IRR of 27 percent.
Currently, 70% BPL rock phosphate FAS Casablanca is published by the
World Bank at USD$ 202 per tonne (January 2012)," Montero said in
Tuesday's statement.

Transport and
logistics costs, which include transport to port, warehousing at port
and transport to wharf alongside ship (FAS), were calculated based on a
budget quote received from a local transport company, the company said.

Total capital costs are seen at C$129 million for the project.

The
company said the net present value of Duyker does not include
expenditures required for exploration and engineering development this
year and in 2013. Montero plans to continue to explore the possibility
of production of other higher-content phosphate fertilizers and other
products to generate additional returns for the asset.

The miner
also plans to increase the resource confidence and estimates, and to
complete sampling to allow for detailed characterization of the rock
phosphate concentrates that may be produced.

An environmental
and social scoping study may start, Montero said, in preparation for
pre-feasibility studies and additional economic assessment that could be
commissioned to examine the viability of a fertilizer plant investment
in the area.

Toronto-based Montero Mining is a mineral
exploration and development company focused on rare earth elements
(REE), phosphates and uranium in Tanzania, South Africa and Quebec,
Canada respectively.

Its flagship Wigu Hill REE project in
Tanzania is a high-grade, undeveloped light REE deposit, with the
company currently focused on updating the initial NI 43-101 resource
estimate and advancing the hydro-metallurgical testwork with Mintek.

Rare
earth elements, a group of 15 metals, are critical in the development
of emerging green technologies and high-tech applications, from electric
and hybrid vehicles and wind and hydro power turbines, to LCD screens,
MRI, X-ray machines, mobile devices and other computing equipment.

Earlier
this month, Montero said it identified measurable amounts of strontium
in bastnaesite-bearing carbonatite dikes in the Twiga Zone at its Wigu
Hill rare earths project in Tanzania.

The strontium found at the
site occurs as strontianite (SrCO3), the company said, which is
associated with the rare earth and gangue minerals, and was established
during initial mineralogical work that identified bastnaesite and
synchisite as the main rare earth-bearing minerals.
The Wigu Hill property was first identified in the 1950s as a high
grade deposit, with a large carbonatite complex measuring 6.4 by 3.2
kilometres. The asset has bastnaesite mineralization and is considered a
"look-a-like" to Molycorp's (NYSE:MCP)
Mountain Pass project. The rare earth elements at the deposit are
hosted in the mineral bastnaesite found in carbonatite dikes, making it
similar to Molycorp's Mountain Pass deposit in the USA.
Montero is working to update the initial NI 43-101 compliant resource
estimate for the Wigu Hill project this quarter, and is targeting cash
flow from a small mining operation at the Twiga Zone.
Last September, the company released a 3.3 million tonne inferred
resource on only a fraction of the Wigu Hill complex. Only the Tembo and
Twiga deposits on the eastern side were estimated to contain an
inferred resource of 3.3 million tonnes at a grade of 2.6% light rare
earth oxide (LREO5).
Montero is focused on upgrading the resource, and has hired Turgis
Consulting to perform a scoping study on the property, due out in the
first half of this year.

Tuesday, 28 February 2012

Cancer therapy company OncoSec Medical (OTCBB: ONCS) said Tuesday
that it has dosed its first patient in a phase two clinical trial
testing its OMS ElectroImmunotherapy treament on advanced-stage
metastatic melanoma patients.
The dosing comes as the University of California San Francisco (UCSF)
received approval from the Investigational Review Board for the trial.
UCSF investigators are currently recruiting for this clinical trial, the
company said.
OncoSec uses its electroporation delivery system that applies cell
membrane stimulation to deliver immunotherapy or chemotherapy to treat a
range of cancerous tumour types.
The OMS electroporation system has proven to enhance cellular uptake,
effectively treating cancerous cells while sparing surrounding healthy
tissue – cutting through the toxic side effects of current available
treatment options like chemotherapy and radiation.
In 2011, the company managed to outline a clinical development plan
for its local and potentially systemic ElectroImmunotherapy program,
which uses the OncoSec Medical System (OMS) to deliver a DNA-based
immunotherapy, known as DNA IL-12, designed to induce a local immune
response against the treated cancerous tumor, while exploiting this
response to initiate a global systemic response against untreated tumors
in other areas of the body.
"Results from our open-label Phase I study demonstrated that DNA
IL-12 and electroporation has the potential to establish a new standard
of care for the treatment of late-stage metastatic melanoma," said
president and CEO, Punit Dhillon.
"With immune response results from this Phase II study expected in
the second half of 2012, we are confident this study will validate the
value of OMS ElectoImmunotherapy."
So far, the company has decided to focus the development of the
ElectroImmunotherapy program on skin cancers, including three separate
indications for metastatic melanoma, cutaneous T-cell lymphoma and
merkel cell carcinoma. Phase two studies for each of these indications
are currently underway, with results from these trials expected in the
second half of the year.
For the metastatic melanoma trial, a total of up to 25 patients with
stage three or four cutaneous and in-transit metastatic melanoma will be
enrolled in the phase two, single-arm, open-label and multi-centre
study.
The company said the trial is designed to assess local and distant
objective response following treatment of cutaneous melanoma lesions
with DNA IL-12 and electroporation, with a primary endpoint of 24 weeks.
One treatment cycle will consist of three treatments, applied to up
to four lesions on days 1, 5 and 8 with a maximum dose of 1.5 mg DNA
IL-12 per treatment cycle.
At 12 months, patients will be moved to the follow-up phase of the
study and will be followed for up to five years for safety, OncoSec
added.
OncoSec’s oncology assets related to its electroporation platform were licensed from Inovio Pharmaceuticals (AMEX:INO).
The electroporation method, which has proven to be both safe and well
tolerated, delivers cancer therapies through millisecond electric
pulses, raising cell uptake by up to 10,000 fold, allowing the
therapeutic agents to be more effective.
Phase one data using OMS ElectroImmunotherapy to treat malignant
melanoma showed that this therapy was both safe and well tolerated, the
company said.
In addition, 53 percent of patients with distant metastatic lesions
demonstrated an objective response, while 15 percent of these patients
having a complete response to the treatment.

Toronto-based Inter-Citic Minerals (TSE:ICI)
(OCTQX:ICMTF) said Tuesday that it has renewed three key exploration
licenses at its Dachang gold project in China. It also combined two
other licenses covering the Dachang Main Zone in order to facilitate
permitting.

The Ministry of Land and Resources (MOLAR) in China
granted a further two year extension of three exploration licenses at
Dachang, covering approximately 173 square kilometres.

The
renewal is effective immediately, and is valid until November 25, 2013,
when it will be eligible for further renewal, the company said.

In
addition, the company received from the Chinese government a re-drawing
of the boundaries of the remaining two exploration licenses within the
property area to facilitate the permitting of the Dachang Main Zone,
which hosts most of the company's current NI 43-101 compliant inferred
mineral resource estimate.

This main area is planned for open
pit mine development. The overall area of these licenses remains
unchanged at approximately 106 square kilometres.

The 279 square
kilometre Dachang project is now comprised of four licenses, all of
which have been renewed successfully by Inter-Citic as they have come
due in the past.

Earlier this month, Inter-Citic unveiled the
fifth and final set of drill results from 26 holes that formed part of
the 2011 exploration program at Dachang.

The results were all
from the 861 Zone at Dachang, which now appears to be related to the
same structure hosting the previously-reported XP Zone, Inter-Citic
said.

This mineralized fault structure has now been delineated by
the company through both drilling and trenching over a strike length of
2.8 kilometres, with the eastern and western extensions remaining open.

Highlights of the latest results from the 861 Zone included
hole CJV-1268, which intersected 6.0 metres with an average grade of
3.20 grams per tonne (g/t) gold, and hole CJV-1270, which returned 3.0
metres at an average of 3.21 g/t gold.
Moreover, hole CJV-1278 encountered an interval of 13.0 metres at an
average grade of 3.61 g/t gold, while hole CJV-1280 reported 4.5 metres
of 4.16 g/t gold.
The currently defined NI 43-101 compliant resource at Dachang,
calculated in June 2011, consists of an estimated measured and indicated
inventory of 1.88 million ounces of contained gold - 17.2 million
tonnes gold grading 3.41 g/t - plus a further inferred mineral resource
of 1.93 million ounces contained gold - 21.3 million tonnes grading
2.83 g/t.
A new NI 43-101 compliant preliminary economic assessment for Dachang is due in 2012.

NanoViricides (OTC:NNVC)
is a company that holds more than one promising clinical development
programs under its belt, with its most advanced - FluCide - set to
undergo FDA scrutiny in an upcoming pre-investigational new drug (IND)
application meeting in March.
The company's stock has gone up 13.7 percent year-to-date, currently changing hands at around 70.5 cents.
The drug development company makes anti-viral therapies using
nanomaterials for a number of viral diseases including seasonal
influenza, HIV/AIDS, oral and genital herpes, and the Dengue virus,
among many others.
Currently, NanoViricides
has five drug development programs within its pipeline, including
FluCide, a drug that works against all forms of influenza such as
seasonal and epidemic flus, and HIVCide, a drug that works against the
HIV/AIDS virus, which the company says could become a "functional cure"
for the disease.FluCide
FluCide, which has the most clinical data of all of the company's
potential drugs and is therefore being advanced through the FDA process
first, works on the same principles as the rest of NanoViricides' platform.
CEO Eugene Seymour said that FluCide will encounter the most scrutiny
from the company's drug platform, as it represents a new class of
drugs, and is "essentially the only real treatment for patients
hospitalized for the flu including the immunocompromised like
post-transplant and cancer patients".
Indeed, when elderly patients or immuno-suppressed people pick up the
flu bug, they often become critically ill, leading to hospitalization
in most cases, particularly if the virus is of a pandemic nature like
the H1N1 swine flu, explained Seymour.
The drug candidate has been tested in animals against a number of
different strains of influenza A, which comprises the majority of flu
infections, as well as against H1N1 swine flu, H5N1 bird flu, and other
strains.
FluCide's ability to work against a host of flu virus strains is a
major consideration, added Seymour, as every year there are many
different mutations of the flu. In the US alone, there are approximately
250,000 severe influenza cases that require hospitalization every year,
resulting in approximately 40,000 deaths.
"Both vaccines and prior immunity look at a very narrow spectrum. If
the virus in question of the season is different even in a small way,
circulating antibodies from the prior strain will not recognize the new
version.
"The yearly preventative vaccine often doesn't reflect the nature of
the circulating virus. Health professionals can estimate what the
strains will be, but they were wrong last year with the two strains that
were put into vaccine," said Seymour.
FluCide is not a vaccine, but rather a therapeutic drug, as it
actually destroys the virus as opposed to improving immunity to a
particular disease.
Seymour said that the world is expecting a flu pandemic, and though
it is not known when this will happen or what the specific strain will
be, it will pay off to be prepared.
In a pandemic emergency in the US, the government has a program
called "emergency use authorization", which means that if a drug has
completed Phase I/IIa safety and efficacy trials, and it is manufactured
under current good manufacturing practice (cGMP) conditions, then the
government is eligible to buy the product to treat people with the
current circulating strain of the flu virus.
"That is why we are pushing now to get FluCide into human trials as quickly as possible," added Seymour.
To fight the flu, the company uses NanoViricides,
an agent designed to fool a virus into attaching to this antiviral
nanomachine, in the same way that the virus normally attaches to the
receptor proteins on a cell surface. Once attached, the flexible
nanoviricide wraps around the virus and entraps it, and in the process,
the virus has its protective envelope breached. The virus is therefore
neutralized and effectively destroyed.
Seymour explained that every virus needs a target cell to enter and
replicate within the body, with the small attachment peptide on the
surface of the virus attaching to the cell's receptor protein.
But the company creates a nanomicelle comprised of polymers used for
many years in the body, and then a peptide, or a protein, is added that
mimics what is expressed in the target cell - creating a nanoviricide.
The body is flooded with many more of these nanoviricide cells than
target virus cells, helping to trick the virus.
The company's CEO said he believes that one infusion of the drug over
a period of a few hours should do the trick, but this has yet to be
tested in humans. So far, the drug has been tested in thousands of
animals, without having a failure, he continued. Results have showed
effectiveness in inhibiting the cycle of infection, and the spread of
the virus, as well as long-lasting effects after drug use was stopped.
In May of last year, the viral drug company reported that its FluCide
drug candidate reduced flu virus levels by 1,000-fold in an animal
study with mice, as compared to the infected untreated control animals,
the company said.
Mice treated with Tamiflu, the standard method of treatment, showed
less than a two-fold reduction in lung viral load, a measure of the
amount of infectious flu virus, at the same time point.
More importantly, two of the three FluCide drug candidates tested
maintained the reduced viral load at 7, 13, and 19 days after virus
infection in the 21-day long study.
For the study, a fatal quantity of virus particles of influenza A
strain was aspirated directly into the lungs of mice. Treatment with
either FluCide or Tamiflu began 24 hours after infection.
Previously, the company also reported that the same three FluCide
drug candidates achieved significantly increased survival rates of
between 20 to 22 days, and more than 95% reduction in lung inflammation.NanoViricides said it still has to perform toxicology studies for FluCide, required for the FDA to move forward.
Seymour said that the company expects to start these trials just
after the pre-IND FDA meeting takes place, which is expected in the next
four to six weeks.
The FDA is anticipated to give guidance on the types of species to be
used in the study, and how many animals are necessary within each
species group, said NanoViricides' CEO. The preliminary meeting will also review the company's plan for conducting human clinical trials needed for approval.
Once FluCide is on its targeted FDA path, NanoViricides expects its other nanoviricide drugs in the pipeline to follow, with one expected "every six months or so".
Just this year alone, the company is awaiting results of new animal
studies testing its drug for genital herpes, as well as animal trial
results for herpes of the eye, and the Dengue virus.HIVCide
Its HIVCide program, which is again based on the nanoviricide
platform, is also creating buzz, with a potential $21 billion
addressable market based on 2013 estimates. NanoViricides
has said that its drug has proven to be a "functional cure" in two
large studies, meaning that although there may be some residual virus
left, the amount of virus is not enough to make it contagious or cause
illness, Seymour said.
The company used animals with a “humanized” immune system for the HIV
trials as embryonic human thymus cells were implanted into the target
animals. Effects of the HIVCide lasted at least 30 days after therapy
was stopped.
Last July, NanoViricides
reported that HIVCide achieved an efficacy level equivalent to a highly
active anti-retroviral triple (HAART) drug cocktail in an animal study.
The three drug-combination used for comparison is one of the current
therapies recommended for patients with HIV.
Although a functional cure is not a complete cure, it would allow an
infected person to continue normal life even after discontinuation of
therapy, maintaining undetectable viral load until a recurrence.
Seymour said that the worse case for this program is to treat
patients with HIVCide for a few days, and then give them a booster
"every few months", with the best case enabling antibodies from the
recovering immune system to knock out the residual virus.
Indeed, by knocking the amount of virus down so low both in blood
circulation and in the lymph nodes, immune system cells could
potentially be allowed to recover, and make antibodies to destroy the
remaining amount of virus.
"An outright cure would be everybody's dream," insisted Seymour.
The company still has to test the HIV drug in human trials, which is a "complex and expensive issue", said NanoViricides' CEO, meaning it will likely need a partner.
"That is why we are going for the low-hanging fruit at the moment, so
to speak - such as herpes, dengue and flu - which the world definitely
needs."New cGMP Manufacturing FacilityNanoViricides,
which has a cash position of around $14 million, has also taken steps
to ensure cGMP manufacturing of drug candidates, with limited capital
costs to the company. It is planning to begin the refurbishment of a new
18,000 foot square facility in 2012 in Connecticut, where the company
will design, order and install a cGMP manufacturing plant.
The drug developer has already announced that a colleague will
guarantee all the loans necessary for the refurbishment and the
construction of the plant, as well as the necessary equipment, allowing
it to start producing samples of its drugs and ensuring consistent
production.
Human trials for FluCide are expected to start next year, depending
on how fast the manufacturing facility can be ready, Seymour concluded.

Security systems and sensors supplier Implant Sciences
Corporation (OTCQB:IMSC) said Tuesday it sold seven Quantum Sniffer
QS-H150 portable explosives trace detectors to an airport in China.
The company is continuing to penetrate the China security market,
having sold several million dollars worth of its QS-H150 product there
since 2008 to a large number of customers, including the Civil Aviation
Administration of China.
According to the China Daily, China is planning to expand as many as
91 of its existing 175 airports between 2011 and 2015, while adding 56
new ones and potentially relocating 16 others.
Implant said its distribution channels are well positioned for this
growth, as well as the expected boost in the rail and subway markets in
China. The most recent sale to the China airport was completed through
the company's Beijing-based distributor, Beijing JingAnLanDun Science
and Technology Development Co.
"Aviation security continues to be an important market for us in China," said Implant Sciences' president and CEO, Glenn D. Bolduc.
"The QS-H150's quality, functionality, performance, and low
cost-of-use consistently win contracts even when going up against
companies that are larger than us with far greater resources."
Implant has been expanding the sales of its QS-H150 to international
markets. Last month, the company said that a major global oil
corporation had purchased units of the QS-H150, to be used in securing
the unnamed oil business' facilities in Africa. This followed new orders
for the device from the Middle East and Japan.Implant Sciences'
systems are used by private companies and government agencies to screen
baggage, cargo, vehicles, among other objects, and people for the
detection of trace amounts of explosives.
The Quantum Sniffer QS-H150 is a handheld explosives trace detector
that rapidly detects trace amounts of a number of military, commercial,
and homemade explosives. The QS-H150 uses no radioactive materials.
Bolduc continued: "We also see significant opportunity in the
aviation security market with our newest product offering, the QS-B220."
Indeed, the Quantum Sniffer QS-B220, which was introduced in May
2011, is a trace detector that uses ion mobility spectrometry to
identify a number of military, commercial and homemade explosives and
narcotic substances.
The benchtop explosives and narcotics detector is suited for a number
of security settings, including high-traffic airports, borders, and
prisons.
In December, the QS-B220 device received CE Certification, an
important step for generating sales in Europe, and earlier this month,
achieved ASTM E2520-07 certification.
Implant also signed a cooperative research and development agreement
with the Transportation Security Laboratory, which has been working
closely with the QS-B220 product to help the company in preparing for
TSA qualification and certification.

Western Potash (TSE:WPX)
said Monday it hired Richard Lock as project director, effective March
20, to help the company develop its wholly-owned Milestone potash
project in Saskatchewan.
Prior to joining Western Potash, Lock worked as project director for BHP/Rio Tinto's
joint venture Resolution copper mining project in Superior, Arizona,
where he was responsible for the development of the multi-billion dollar
project, including pre-feasibility studies and associated on-site
activities for exploration and future development.
Resolution hosts the third largest copper ore body in the world, and
is expected to produce 25 percent of the U.S. copper supply, while
creating 3,700 jobs and generating USD $61 billion in economic growth.
Lock started his career in the mining industry some 24 years ago, with De Beers-Anglo American in South Africa. He later joined Rio Tinto's
(NYSE:RIO) Diavik Diamonds Project (Diavik) at Lac de Gras in Canada’s
Northwest Territories, where he took the project from the evaluation
stage to production.
Western Potash president and CEO, Patricio Varas, commented: "We are
delighted to have Richard join our project development team.
"This appointment to the Milestone Project sends a clear signal that
the company is effectively assembling a world class team, dedicated to
bringing a world class Potash project to production.
"Those of our management team that have worked with Richard at Diavik
and Resolution relish the opportunity to work together to deliver the
newest independent potash mine in Saskatchewan."
Late last year, Western Potash announced several operational updates,
including an updated resource estimate for the Milestone property.
The company said the updated resource estimate slightly increased the
Milestone recoverable potash resource to 66.6 million tonnes in the
measured category, 186.9 million tonnes of indicated resource, and 708.2
million inferred tonnes.
In October 2011, the junior miner said an independent prefeasibility
study (PFS) confirmed its 100 percent-owned Milestone potash property
showed "significant positive economics".
The study, carried out by AMEC Americas, showed that the asset was of
sufficient size and grade to support mining for more than forty years
at a production rate of 2.8 million tonnes per year. The annual
production rate can also be expanded through a higher level of capital
expenditure.
An assessment of project economics, assuming a discount rate of 10
percent, showed the resulting project net present value is C$4.14
billion, while the internal rate of return is 22.7 percent.
The initial capital expenditure estimate for the plant is $2.76
billion, including allowances for port infrastructure, a water supply
pipeline, and off site railway. Unit operating costs were estimated to
be $62.35 per tonne at full production capacity.
The environmental impact study (EIS) for the project remains on
schedule and on budget, with an anticipated submission date in the third
quarter of 2012.
The Milestone property, comprising 500 square kilometres, is located
30 kilometres southeast of Regina, and southeast of Mosaic’s Belle
Plaine Mine, one of the largest producing potash solution mines in the
world.

NeoMagic Corp. (PINK:NMGC)
said Monday its USB 3.0 flash drive MagicVault solution demonstrated a
major performance improvement over currently available products during
testing.
The company designs and delivers consumer electronic device solutions for video, television, imaging, graphics and audio.NeoMagic
tested the flash drive on its field programmable gate array (FPGA)
platform, an integrated circuit designed to be configured by the
customer or designer after manufacturing.
The embedded memory tech maker also said Monday it is in talks with
“potential strategic partners and investors” about MagicVault and other
new products in development.NeoMagic said its design win with ViV Systems to develop an M-Book controller for karaoke systems has made significant progress.
CEO of ViV Systems, Tho Pham, said: “We are very pleased with the support received from NeoMagic’s
team in the development of our M-Book Karaoke controller which is based
on the MiMagic6+ SOC with 7” high resolution touch screen support.
"We are looking forward to bringing this product to market in the
second quarter of this year. The M-Book will greatly enhance the user
experience for our karaoke systems."NeoMagic
said it is continuing its efforts to find other customers for
MiMagic6+, which is a SOC/Micro-controller for embedded applications.
The company continues to ship its MiMagic 3 product to its Asia Pacific
customer, it added.
During the last two years, NeoMagic’s
goal has been to develop new products in high-volume and to find other
opportunities to monetize existing MiMagic family products, which are
processors and software used within smartphones, TVs and other
electronics.
An "equally important" near-term goal for NeoMagic
is to return to full-time financial reporting, it said. The company
suspended its financial reporting in the second quarter of 2011 in order
to allocate its full resources to bringing new products to market.NeoMagic also said it is also exploring various e-commerce opportunities as well.
Separately, the company announced on Monday that Rod Peterson has
been named vice president of administration and information. Peterson
has been involved in all phases of NeoMagic’s operations for three years.

Lithium Americas Corp. (TSE:LAC)
(OTCQX:LHMAF) said Monday it has completed a 3D brine numerical model,
used to simulate brine extraction from its Cauchari-Olaroz
lithium-potash project in Argentina, which confirmed the size and
production capacity of the resource.
The model allows the prediction of brine flow within the salar, or
salt lake, as well as of the mine life, the lithium grade depletion over
time and reserves.
The company said the modeling is supported by geological,
hydrogeological and geochemical data collected through field programs at
the site.
"A 3D brine numerical model is the ultimate tool to fine tune the
mine plan in a brine development resource," said president and CEO, Dr.
Waldo A. Perez.
"The model has also supported many of the critical assumptions in our
Preliminary Economic Assessment (PEA) including the size, quality and
estimated productive life of the Cauchari-Olaroz resource estimate – one
of the largest lithium brine resource in the world.
"We are very pleased that the model also indicates that due to the
exceptional geological characteristics of our salar, we are expected to
require approximately 50% of the production wells originally estimated
in the PEA to put phase 1 of the project into production."
Results of the model will be displayed at the company’s booth at the
Prospectors and Developers Association of Canada Convention (PDAC) in
Toronto, Ontario.
"We continue to add value to our project and to demonstrate the
technical capability of our team. We expect to deliver the definitive
Feasibility Study with reserves and a mine plan in Q2 2012," added
Perez.
The company's Cauchari-Olaroz lithium project comprises a significant
portion of two adjacent Argentinean salt lakes, Cauchari and Olaroz,
covering 82,498 hectares located in the "Lithium Triangle" region of
South America.
Cauchari-Olaroz is considered the third-largest deposit of lithium in
the world. The property has a total lithium and potash resource of 8.0
million tonnes and 25.4 million tonnes, respectively.
Major automotive players Mitsubishi Corp and Magna International are shareholders of the company, in addition to them both having off-take arrangements with Lithium Americas.
In late 2011, Mackie Research said that the company was "on track to becoming a leading player in the lithium market".
Indeed, an April 2011 preliminary economic assessment (PEA) completed
by ARA Worley Parsons defined an operation with an eventual operating
capacity of 40,000 tonnes of lithium carbonate per year, having an
operating cost of $1,434 per tonne - considered to be among the most
competitive costs of any lithium operation in the world.
Looking forward, Lithium Americas
said the planned milestones for this year include an NI 43-101 reserves
estimation calculated by AquaResource Inc. in the first quarter of
2012, which will include the 3D model reported today.
The 3D model was developed by AquaResource, with the involvement of Dr. Mark King, the Independent Qualified Person for Lithium Americas.
The model included additional data collected since the previous
resource estimate filed in December 2010, including geology, hydraulic
testing and brine results from five pumping well arrays and four sets of
salt lake boundary tests, as well as a water balance analysis,
completed in 2011.
The upcoming reserve estimate will be derived from the simulation of a
conceptual production well system. The model predicts that the grade of
the pumped brine will remain above 600 milligrams per litre lithium for
a period of at least 50 years.
The model also shows that an annual production rate of 40,000 tonnes
of lithium carbonate can be achieved over a period of 40 years, without
extracting brine from outside of the property boundary. The predicted
duration for which it can maintain a production rate of 40,000 tonnes of
lithium carbonate per year within the model exceeds 50 years, the
company added.
Using data from the upcoming reserves study, ARA WorleyParsons is
expected to deliver a definitive feasibility study in the second
calendar quarter of 2012.
After the feasibility study, Lithium Americas expects to start detailed engineering in the third quarter, which is expected to be complete in nine to 12 months.
During the second half of the year, the company also expects the
approval of an environmental impact statement - a type of permit
necessary to begin construction and mining at Cauchari-Olaroz.
Other near-term milestones include the completion of a certification
and qualification process for its battery-grade lithium carbonate, the
re-assembling of a pilot plant at the project, and the closing of
financing and off-take agreements with strategic parties, Lithium Americas said.